• Unit 7: Business Cycle Theory - II

    Unit 7 builds on Mises’ analysis of the business cycle by introducing the work of Professor Roger Garrison, who expanded on the work of Hayek in the 1930s and 1940s to build an excellent graphical exposition of the Austrian business cycle theory. In this unit, you will explore the theory in greater detail by looking at Garrison's presentation and discussing how saving through deferred consumption increases production.

    Completing this unit should take you approximately 2 hours.

    • 7.1: Lecture

    • 7.2: Discussion